Strauss-Kahn out on bail with monitor and guard

A judge has granted bail to
Dominique Strauss-Kahn
, the former managing director of the International Monetary Fund, allowing him to be freed from Rikers Island to stay in a Manhattan apartment while his sexual assault case is pending.

Mr Strauss-Kahn’s lawyers said in court their client would put up $US1 million ($938,950) cash bail and wear an ankle monitor.

They also said Mr Strauss-Kahn would remain under 24-hour home confinement in an apartment rented by his wife, with an armed guard posted outside – presumably to ensure he stays inside. He also submitted a waiver of extradition should US authorities need to get him back from France.

The judge, Michael Obus of the State Supreme Court in Manhattan, agreed to those conditions, also requiring a $US5 million ($4.7 million) bond be posted. Mr Strauss-Kahn was expected to be released into home confinement overnight, after the judge made the bail agreement final.

The defence has hired Stroz Friedberg, an investigative consulting firm that focuses primarily on computer forensics and cyber crime investigations, to handle the security measures for Mr Strauss-Kahn. The firm provided similar monitoring for Bernard Madoff.

Related Quotes

Company Profile

Justice Obus said he would leave it up to Stroz Friedberg to determine how many people needed to stand guard at Mr Strauss-Kahn’s apartment, how many visitors he could have and the limited circumstances under which he would be permitted to leave the apartment.

Before the judge gave his decision, prosecutors announced that a grand jury had indicted Mr Strauss-Kahn.

He has been in protective custody on Rikers Island since Monday, on charges related to allegations that he sexually assaulted a hotel housekeeper at the Sofitel New York.

The charges included several first-degree felony counts, including committing a criminal sex act, attempted rape and sexual abuse. The most serious charges carry 25-year prison terms.

Mr Strauss-Kahn is due back in court on June 6.

Meanwhile, it emerged that a frontrunner to succeed Mr Strauss-Kahn as the IMF chief,
Kemal Dervis
from Turkey, had an affair with a subordinate at the IMF some years ago.

Mr Dervis, who is a vice-president at the Brookings Institution, was Turkey’s economy minister from 2001 to 2002 and was widely credited with bringing Turkey out of a severe financial crisis by privatising state assets and slashing budget deficits amid fierce political opposition.

He speaks fluent French, German and English and is a veteran of IMF-style bureaucracies such as the World Bank and the United Nations.

Mr Dervis, 62, was not married at the time of the affair but the woman was. He declined to discuss details of his personal life.

“Look, I have not put my name forward, nor has anyone called me about the job," Mr Dervis said.